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Applications of Exponential & Log Functions

Applications of Exponential & Log Functions. Review of Formulas for Compound Interest: After t years, the balance A in an account with principal P and annual interest rate r (in decimal form) is given by the formulas: For n compoundings per year:

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Applications of Exponential & Log Functions

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  1. Applications of Exponential & Log Functions

  2. Review of Formulas for Compound Interest: After t years, the balance A in an account with principal P and annual interest rate r (in decimal form) is given by the formulas: For ncompoundings per year: For continuous compounding:

  3. Ex 1: You have deposited $500 in an account that pays 6.75% interest, compounded continuously. How long will it take for your money to double?

  4. Ex 2: Bob deposited $2500 in an account that pays 5.675% interest, compounded continuously. How long will it take Bob to have a balance of $7000?

  5. Homework: Worksheet

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